Gold & Silverbeta

December 11, 2012
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The definitive group for discussing all things related to the precious metals

A resourceful community for those who hold, plan to purchase, or are helplessly infatuated with gold & silver

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davefairtex
By davefairtex on Fri, Apr 24, 2015 - 5:37am

PM Daily Market Commentary - 4/23/2015

Gold rebounded +6.70 to 1193.30 on moderate volume, while silver rose +0.09 to 15.85 on moderately heavy volume.  Since the buck fell -0.70% today, the PM rally today can be entirely explained by currency moves; gold in Euros actually fell -0.36%.

After dropping $15 yesterday, the $7 rally is not much of a bounce, especially given the very weak dollar today.  Gold still looks weak.  Adding to this sense, over the past two weeks, the volume on each up-day is much lower than the volume on the down days.  That's always a bearish sign.

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